M&A deals on the rise for global oil and gas

The umber of M&A deals and their value is up significantly on Q3 of 2017
The travelling block hangs beside drill pipes on the derrick of a drill rig during oil drilling operations by Targin JSC, a unit of Sistema PJSFC, in an oilfield operated by Bashneft PAO near Ufa, Russia. Photographer: Andrey Rudakov/Bloomberg

A total of £34.3billion-worth of merger and acquisition deals were carried out in upstream oil and gas in the third quarter of the year.

A total of 199 deals were carried out, according to research firm GlobalData, who said their value represents a 77% quarterly increase from the £19.3bn in Q2.

Meanwhile £28.1billion in capital-raising was carried out in the period, a 19% increase on Q2.

The Americas were the frontrunner for M&A activity with 132 deals worth £25.1billion, followed by Europe, the Middle East and Africa with 45 at a combined total of £6.4bn.

The global figure is nearly double the value of M&A deals in the same quarter in 2017, which were worth £18.1bn.